12:02 PM EDT, 04/01/2024 (MT Newswires) -- (Updates with Brookfield's response to MT Newswires in the fourth paragraph.)

Brookfield Asset Management's ( BAM ) newly formed $200-billion credit business aims to attract insurers to oversee their assets, Bloomberg reported Monday, citing the unit's chief executive officer.

"What we've decided to do is bring all of our credit activities under one umbrella, allowing for increased focus and more growth," said Craig Noble, head of the credit business, Bloomberg reported.

Brookfield's credit unit oversees the company's infrastructure and real estate lending funds, as well as partnerships with firms including Oaktree Capital Management, the report said.

Brookfield told MT Newswires it has nothing to add other than what was reported or disclosed.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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